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Many budding entrepreneurs struggle mightily
with that first step – out of their comfort zone and into the
unknown. They keep asking people like me whether the time is
right, and the truth is that there’s never an ideal time to start
your own business. It’s like starting a personal relationship, if
you wait for exactly the right time, you’ll never do it.

I’ve talked to many experts, and everyone has his own view of the
right personal attributes, and the right business conditions to
jump in. In my own view, the recovering economy is ripe for new
startups, but successful startups are more about the right
person, than the right idea or the right climate. So the real
challenge is looking inward to check your alignment with these
clues:

Running a business is a passion you crave.
This is a necessary, but not sufficient reason to start a
business now. It’s not the same as “I want to change the
world (volunteer for a good cause)” or “I’m tired of the
corporate grind (take a vacation).” It does mean you have a
compelling new business idea, and a willingness to face risk.

You know what needs to be done, and not afraid to
make the decisions. This is the right context for
being your own boss. You get great satisfaction from
overcoming all obstacles, and you have no problem with living
or dying by your own decisions. You have never had a problem
putting together a plan and making it happen.

The opportunity to make real money excites
you. You have read all the stories of Google and
Apple hitting on a great idea, beating the odds, and being
worth millions in just a couple of years. You like the idea
that most of the money you make will be yours, not just
merged into corporate profits.

You believe the economy has tilted the odds in your
favor. The recent recession has definitely opened up
opportunities for new products, and skilled people at lower
costs are abundant. Many of the great entrepreneurs of the
past started their companies near business recessions and
depressions.

You get to set the deadlines, and manage your own
priorities. You have always felt that you can do
more than expected by current bosses, if allowed to do it on
your own schedule with your own milestones. Your
self-motivation is more effective for you than any arbitrary
rewards and even salary increases.

You get to do the interesting things, for a
change. First of all, the business you intend to set
up is your dream, not someone else’s. Within that context,
you can delegate or find partners for things that bore you,
like marketing, rather than feel that you have been assigned
to do the least interesting work.

A variety of challenges stretches your abilities to
the maximum. If you love to learn new things, and
are stimulated by change, you will love the new business
environment. Every day is different, from dealing with
creative elements, to financial challenges, marketing and
sales, and customers of every type.

Your office would be where you want it. Many
entrepreneurs enjoy working from their home, where they are
more comfortable, and can interact better with their family.
Some like an old eclectic loft downtown, or a local coffee
shop to minimize the commute. In these days of global links,
you can run the business from halfway around the world.

What you envision doesn’t seem all that hard to
you. In fact, the cost of entry into most businesses
has come down greatly in the last twenty years. You can now
start an e-commerce site for $100, or develop software
applications for smart phones for a few thousand. The right
reason to start a business is because you have done your
homework, and are convinced that you have the skills and
knowledge to do it easily.

You are really ready for a second career.
This is especially applicable to Boomers and anyone who has
had a successful career, but now ready for a new challenge,
with a little time on their hands. The good part of having
your own business is that you don’t even have to give up your
first job to start the second.

If a few of these reasons are calling your name, now is the time
to start building your business. There's no better time,
especially if people around you are hesitating. It means you'll
be facing a lot less competition. What are you waiting for?